If there is any bonded indebtedness existing which was incurred in the purchase or construction of such electric plant, gas plant or waterworks plant and which is a lien upon the plant, the purchaser shall assume the payment of such bonded indebtedness.
Ala. Code § 11-50-151
Purchaser to Assume Payment of Existing Bonded Indebtedness Upon Plant.
(Acts 1909, No. 212, p. 253; Code 1923, §2069; Code 1940, T. 37, §386.)
Official source: Alabama Legislature (ALISON). Reproduced from public-domain Alabama statutes; confirm against the official source for the current text. Not legal advice.